MGT-2010 Lecture Notes - Lecture 6: Competitive Intelligence, Market Environment, Swot Analysis
16 Oct 2017
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Document Summary
What is effective strategy: strategy is the creation of a unique and valuable position, few needs, many customers, broad needs, few customers, broad needs, many customers, strategy requires trade-offs in competing, strategy involves creating a fit among activities. The process of choosing among different strategies: strategy formulation: . Implement the strategy: maintain strategic control: the feedback loop, putting strategic plans into effect is strategy implementation, strategic control: . Mission : the organization"s purpose or reason for being, expressed in a . Vision statement : long term goal of what it wants to become statement. Competitive intelligence : gaining information about one"s competitors activities so. How to gain competitive intelligence: that you can anticipate their moves and react appropriately. Environmental scanning : careful monitoring of an organization"s internal and external environments to detect early signs of opportunities and threats that may influence the firm"s plans. Swot analysis : strengths, weaknesses, opportunities, and threats affecting the organization.
